Data / Crowdfunding / California / Union Electric Supply, Inc.
Union Electric Supply, Inc.: crowdfunding raise on OpenDeal Portal LLC, $25,000 to $5,000,000 (2021)
Union Electric Supply, Inc., a corporation in Los Angeles, CA, filed a Form C with the SEC on June 29, 2021 to raise $25,000 to $5,000,000 in Crowd SAFE through OpenDeal Portal LLC. The offering closed on November 1, 2021. In its most recent fiscal year it reported $3,179,650 in revenue and a net loss of $1,023,215, with 1 employees.
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- Website
- unionelectric.co
- Funding portal
- OpenDeal Portal LLC
- Address
- 4055 REDWOOD AVE #420, Los Angeles, CA 90066
- Legal form
- Corporation
- Jurisdiction
- DE
- Incorporated
- January 9, 2020
- SEC CIK
- 0001829703
Offering terms
From the offering filed June 29, 2021.
- Security
- Crowd SAFE
- Price
- $1.00
- Target
- $25,000
- Maximum
- $5,000,000
- Deadline
- November 1, 2021
- Portal compensation
- A cash commission of 6% for amounts raised under $2M, 4% between $2M and $4M and 3% for amounts raised between $4M and $5M
Financials
From the Form C-AR filed April 27, 2022.
| Most recent fiscal year | Prior fiscal year | Source | |
|---|---|---|---|
| Revenue | $3,179,650 | $924,429 | sec.gov |
| Cost of goods sold | $2,651,785 | $779,871 | sec.gov |
| Net income | $-1,023,215 | $-644,070 | sec.gov |
| Taxes paid | $0 | $0 | sec.gov |
| Total assets | $667,124 | $1,298,270 | sec.gov |
| Cash | $162,787 | $670,675 | sec.gov |
| Accounts receivable | $90,961 | $43,534 | sec.gov |
| Short-term debt | $136,640 | $70,228 | sec.gov |
| Long-term debt | $1,152,276 | $1,559,032 | sec.gov |
Filings
| Filed | Filing | Target | Maximum | Deadline | Note | Source |
|---|---|---|---|---|---|---|
| April 27, 2022 | Annual report | Not listed | Not listed | sec.gov | ||
| November 4, 2021 | Progress update | $25,000 | $5,000,000 | November 1, 2021 | The Offering closed successfully on 11/02/2021 having received investment commitments of $318,601.00, although a final accounting has not taken place. | sec.gov |
| June 29, 2021 | Offering | $25,000 | $5,000,000 | November 1, 2021 | sec.gov |
Updated April 27, 2022. Read from SEC EDGAR. Public domain (U.S. government work). Financials are as each company reported them in its Form C, unaudited unless the filing says otherwise. Websites are the ones the companies declared to the SEC. Free to reuse with credit to SpecStream under CC BY 4.0. Spot a wrong value? Write to [email protected] with the link to this page.